The development of the Ethereum 2.0 project allocated $ 19 million, Japanese cryptoexchanges mark a multiple increase in new customers. Barry Silbert found reasons for the growth of Bitcoin.

$ 19 million allocated for Ethereum 2.0 development

Non-profit Ethereum Foundation allocates $ 30 million to promote programs associated with the development of the blockchain. The largest part of this amount, $ 19 million, will be directed to the development of Ethereum 2.0 technology. Another 8 million will go to support existing projects. And the organization plans to send $ 3 million to attract new developers.

The transition of the blockchain to the Proof-Of-Stake technology for the Ethereum 2.0 project should drastically change the network's capabilities. As Vitalik Buterin has repeatedly stated, this is how the problem of network scalability can be solved. This will allow more than 1000 times to increase its speed in processing transactions and reduce energy consumption.

The rapid surge of interest in cryptocurrency on Japanese exchanges

According to data from the three largest cryptocurrency exchanges in Japan, the number of open accounts has tripled in two months. At the sites reported that the most rapid growth was recorded on May 14. On this day, the number of new customers was seven times the annual average.

It is reported that a significant part of the accounts were opened by those who had not previously used cryptocurrency in any circumstances. In Japan, there are quite strict rules for the operation of trading platforms, but the turnover of digital financial assets is completely legalized here. There are 19 cryptoexchanges in the country, and more than 100 organizations are still waiting for permission from the FSA. Therefore, investing is a relatively safe project, which attracts investors.

Trade war has become a catalyst for the growth of cryptocurrency

According to the founder of the Digital Currency Group, it is the growing tensions between the US and China that caused the price increase in the cryptocurrency market. This Barry Silbert said in an interview with Fortune. During the period of instability, Bitcoin managed to occupy the niche of the safe-haven asset, and it was able to press the traditional assets from this place, namely precious metals.

The expert notes that cryptocurrencies always start to grow in a period of increased market volatility. In addition, the entry of new players, hedge funds and institutional investors has played its role. For them, an infrastructure has been created that allows capital to be placed with minimal risks.

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